Feb 8, 2014: News updates

US Treasury introduces ‘extraordinary measures’ as Feb. 27 debt deadline looms

Published time: February 08, 2014 10:55

The US Treasury on Friday was forced to enact ‘emergency measures’ after spending its borrowed time and money. By month’s end, Uncle Sam’s piggy bank will be down to just $50 billion, US Treasury Secretary Jacob Lew warned Congress....

...Under the budget agreement passed by Congress in October, the debt limit was suspended on February 7. Beginning on Saturday, the debt limit goes back to its current level of $17.2 trillion.

In the event that Congress fails to agree on that amount by February 27, the US government will be forced to default on its debt obligations, a move that would have no small impact on global markets.


http://rt.com/usa/us-debt-lew-treasury-173/

Prepare for riots in euro collapse, Foreign Office warns

Feb 8 2014- British embassies in the eurozone have been told to draw up plans to help British expats through the collapse of the single currency, amid new fears for Italy and Spain.

http://www.telegraph.co.uk/news/politics/8917077/Prepare-for-riots-in-euro-collapse-Foreign-Office-warns.html?fb

New controls in place, Ukraine tries to dampen currency fear

Reuters
By Natalia Zinets February 7, 2014 9:37 AM
    Ukraine's currency reserves fall to $17.8 billion due to debt repayments, intervention - central bank Reuters
KIEV (Reuters) - Ukraine's central bank tried to dampen fears about its currency on Friday after imposing new capital controls to bolster the hryvnia that banks said were likely to cripple trade and lead to a currency black market.

http://news.yahoo.com/controls-place-ukraine-tries-dampen-currency-fear-121553340--sector.html

Exclusive: UBS seeks first-mover immunity in U.S. currency probe - sources

ReutersReuters – Fri, 7 Feb, 2014 4:12 PM EST
LONDON (Reuters) - Swiss bank UBS AG (VTX:UBSN.VX - News) approached U.S. authorities in September with information relating to an industry-wide probe into alleged rigging of currency markets, in the hope of gaining antitrust immunity if charged with wrongdoing, sources familiar with the matter told Reuters.

UBS is seeking to take advantage of a program from the Justice Department's antitrust division under which the first company to report misconduct relating to a cartel can earn immunity from antitrust charges if it cooperates and provides information about other members of the group, three sources said.

http://ca.finance.yahoo.com/news/exclusive-ubs-seeks-first-mover-211204884.html;_ylt=ApBcT1TOR8TWBPYdbkaH2jdxzJpG;_ylu=X3oDMTEzZ2FpZzY0BG1pdAMEcG9zAzI5BHNlYwNNZWRpYU1vc2FpY0xpc3RMUENB;_ylg=X3oDMTBhdnVpNmo3BGxhbmcDZW4tQ0E-;_ylv=3

Apple Buys Back $14 Billion of Its Shares in Two Weeks

By REUTERSFEB. 7, 2014
Apple has repurchased $14 billion of its stock in the two weeks since it reported disappointing first-quarter results, a company spokesman said.

Apple bought $12 billion of shares through an accelerated share repurchase program and $2 billion of shares from the open market, the spokesman said. An accelerated share repurchase usually involves a company buying its

http://www.nytimes.com/2014/02/08/business/apple-buys-back-14-billion-of-its-shares-in-two-weeks.html?_r=1

 Mt. Gox Bitcoin Bank Run Intensifies, 1 Million Customers at Risk

 - February 7, 2014 1:04 PM
Exchange is refusing to give customers their money, CEO is at large, and company faces "significant losses"

Early Friday morning Tokyo, Japan-based Bitcoin exchange Mt. Gox froze customers accounts, refusing to give customers their money back.  Customers were still allowed to trade the Bitcoins in their accounts for other currencies, Mt. Gox's primary function.

http://www.dailytech.com/Mt+Gox+Bitcoin+Bank+Run+Intensifies+1+Million+Customers+at+Risk/article34293.htm

Eric Sprott interview

Eric King:  “Eric, what about the looting of GLD in 2013?  Obviously we are not seeing that so far in 2014.  What does that mean for 2014?”
Sprott:  “Well, Eric, in fact we’ve had a couple of days when gold has (actually) gone into GLD.  We are talking about 900 tons of gold that came out of the various ETFs (in 2013)....
...Sprott added: “I really believe that the decline last year was orchestrated because the (Western) central banks have run out of gold.  To think that the US Treasury, which theoretically had 8,000 tons of gold, could only deliver 5 tons to Germany (laughter ensues).  The dots you can connect are so obvious that there is no gold there (in US vaults).  You would think they could have done a hell of a lot better than that (delivering only 5 tons), but they couldn’t.  So I think we will see a lot more spirited buying of GLD, and it’s impact on the physical market could be very dramatic.”

http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2014/2/7_Billionaire_Eric_Sprott_-_The_US_Gold_Is_Gone.html

4th Financial Services Executive Found Dead; "From Self-Inflicted Nail-Gun Wounds"

 02/07/2014 17:02 -

The ugly rash of financial services executive suicides appears to have spread once again. Following the jumping deaths of 2 London bankers and a former-Fed economist in the US, The Denver Post reports Richard Talley, founder and CEO of American Title, was found dead in his home from self-inflicted wounds - from a nail-gun. Talley's company was under investigation from insurance regulators.

http://www.zerohedge.com/news/2014-02-07/4th-financial-services-executive-found-dead-self-inflicted-nail-gun-wounds

Danske Bank locks 10,000 customers out of their accounts

Just 72 hours to withdraw funds from cash machines
 Saturday 8 February 2014

 THOUSANDS of customers of Danske Bank are set to be denied access to their money after the bank said it was closing their current accounts from today.
The bank has confirmed that 15,000 current accounts are to be "terminated" and the majority of customers who hold these accounts have yet to shut them down and switch to a new one.Up to 10,000 people could find their funds frozen as they have failed to set up a new account with another bank....


http://www.independent.ie/business/personal-finance/danske-bank-locks-10000-customers-out-of-their-accounts-29987701.html

European Parliament backs prison terms for market fraudsters

The European Parliament has given the green light for seriously cracking down on market manipulation and insider dealing. Rogue traders could soon be handed prison terms rather than just being fined.

http://www.dw.de/european-parliament-backs-prison-terms-for-market-fraudsters/a-17408043

UK immigration minister resigns over undocumented cleaner

By Bharati Naik, CNN
February 8, 2014 -- Updated 1727 GMT (0127 HKT)

London (CNN) -- British Immigration Minister Mark Harper has stepped down from his post after admitting that for several years he employed a cleaner who was an undocumented immigrant.
http://edition.cnn.com/2014/02/08/world/europe/uk-minister-resigns/index.html?hpt=hp_t3

 Argentina Probes Deutsche Bank’s Dismissal of Trader

By Charlie Devereux and Pablo Gonzalez Feb 7, 2014 6:42 PM GMT+0100

Argentina’s central bank is investigating the dismissal of a Deutsche Bank AG (DBK) currency trader to determine whether it was linked to a warehouse fire that destroyed industry documents this week in Buenos Aires.

http://www.bloomberg.com/news/2014-02-07/argentina-probes-deutsche-bank-s-dismissal-of-trader.html

German Commerzbank offloads Spanish property loans

http://www.ft.com/intl/cms/s/0/5dc4ea14-8f29-11e3-9cb0-00144feab7de.html#axzz2sjMIQXp6

 Fury as Tory party donors are handed NHS contracts worth £1.5BILLION under health reforms

Feb 08, 2014 00:00

Shadow Health Secretary Andy Burnham uncovered the links between private health firms and prominent Conservative supporters
Private health care firms with Tory links have been awarded NHS contracts worth nearly £1.5billion.
Circle Health landed £1.36billion worth of health service work after several ­of its investors gifted about £1.5million to the Conservatives.

http://www.mirror.co.uk/news/uk-news/fury-tory-party-donors-handed-3123469#ixzz2sm0WF4Ib

ZimDollar return inevitable: Biti

MDC-T shadow minister of finance Tendai Biti on Tuesday said the unpopular Zimbabwean dollar will inevitably come back whether the Zanu PF government likes it or not.

“We cannot print the US dollar, our currency printing press is not working and it will work sooner rather than later,” Biti told reporters at his party's Harvest House head office in Harare.

http://www.newzimbabwe.com/news-14216-ZimDollar+return+inevitable+Biti/news.aspx

ECB's Visco tells Italy's banks to be 'ambitious' in purging bad debts

ReutersBy Gavin Jones | Reuters – 9 hours ago

ROME (Reuters) - Bank of Italy Governor Ignazio Visco on Saturday backed moves by some of the country's lenders to get rid of non-performing loans on their books and suggested they could consider "more ambitious" approaches.

http://ca.finance.yahoo.com/news/ecb-39-visco-urges-italy-39-banks-further-110859030--sector.html

Burkina Faso gold exports to rise to 35 T in 2014 - minister

ReutersReuters – 13 hours ago
OUAGADOUGOU (Reuters) - Burkina Faso plans to boost gold exports to 35 tonnes in 2014 from 32 tonnes last year on the back of plans to expand two existing sites, the mines minister said.

Gold leapfrogged cotton to become the landlocked West African country's main export in 2009 and now accounts for roughly 20 percent of GDP.

http://ca.finance.yahoo.com/news/burkina-faso-gold-exports-rise-35-t-2014-090521489.html

US tests B61 Atomic Bomb- fire later that night at labs

http://removingtheshackles.blogspot.com/2014/02/us-tests-b61-atomic-bomb-fire-later.html



Friday, February 7, 2014

ACLU Seeks Information on FBI’s Secretive “Port Readers”

On Wednesday the American Civil Liberties Union filed a Freedom of Information Act request with the Federal Bureau of Investigations in an effort to find out details on a little known tool the Bureau uses to assist the National Security Agency in gathering data about Americans.

The tool, known as “port readers”, are capable of copying emails and instant messages in real time. The tool is supposed to delete the contents of the emails and leave only the “metadata” for the government.


http://www.activistpost.com/2014/02/aclu-seeks-information-on-fbis.html

 Massive Ga. blaze is contained but still burning

By RUSS BYNUM
Associated Press
Posted: Saturday, Feb. 08, 2014
SAVANNAH, Ga. Firefighters battled a giant blaze fueled by 5,600 tons of rubber Saturday at the Port of Savannah, where a towering column of black smoke could be seen from miles away.
By late Saturday, the fire department said its crews had contained the fire, but it could take a while for the flames to burn out inside a warehouse covering 226,000 square feet at the port's Ocean Terminal just west of downtown Savannah.

 http://www.charlotteobserver.com/2014/02/08/4673842/large-warehouse-fire-breaks-out.html#.Uva3Zk3xvIU#storylink=cpy



Friday, February 7, 2014

Axa Banque - U.S. Person Account Closures in France

It's official, Axa Banque sent letters out recently to their U.S. Person clients informing them that they are no longer welcome chez eux and giving them very little time to find alternatives.

http://thefranco-americanflophouse.blogspot.fr/2014/02/axa-banque-us-person-account-closures.html

Florida Ordinance Makes It Illegal For Homeless To Use Blankets

Read more at TLR: Florida Ordinance Makes It Illegal For Homeless To Use Blankets | The Libertarian Republic

http://thelibertarianrepublic.com/florida-ordinance-makes-illegal-homeless-use-blankets/#ixzz2sm2EvatZ

Corbett report

 Bankster Suicides and Bank Run talk
 http://www.youtube.com/watch?v=ofW_0HKchgk

Feb 6, 2014: News Updates

U.S. bank leverage rules to include global revisions: Fed governor

ReutersReuters – 3 hours ago

WASHINGTON (Reuters) - A top U.S. bank regulator plans to tell lawmakers on Thursday that final leverage rules for U.S. banks will incorporate recent revisions to a global capital standard, which likely means tougher requirements for the institutions.

http://ca.finance.yahoo.com/news/u-bank-leverage-rules-global-revisions-fed-governor-025822825--sector.html

Factbox: Members of U.S. Congress who are leaving office

WASHINGTON Tue Feb 4, 2014 3:07pm ES

(Reuters) - Forty U.S. representatives and senators have announced plans to leave their seats in Congress in advance of mid-term elections in November, including 22 Republicans and 18 Democrats.

http://www.reuters.com/article/2014/02/04/us-usa-politics-departures-factbox-idUSBREA131GZ20140204?feedType=RSS

 Hedge Funds Rework Currency Positions in Market Drop

By John Detrixhe Feb 6, 2014 9:24 AM GMT+0100
Traders who anticipated a year when riskier bets would pay off are overhauling their foreign-exchange positions after an emerging-markets rout led to the worst start to the year for currency funds since 2004.

http://www.bloomberg.com/news/2014-02-06/hedge-funds-rework-positions-in-emerging-market-drop-currencies.html

 Goldman Cash Brings Relief to Dong CEO as Deal Is Completed

By Christian Wienberg Feb 6, 2014 1:56 PM GMT+0100

After weeks of turmoil that ended in street protests and a government split, Dong Energy A/S Chief Executive Officer Henrik Poulsen says a cash infusion from Goldman Sachs Group Inc. (GS) will resurrect the Danish utility.
Denmark last week pushed through a $1.5 billion sale of an 18 percent stake to Goldman to prop up the state-controlled company after it hemorrhaged money on natural gas projects.

http://www.bloomberg.com/news/2014-02-05/goldman-cash-brings-relief-to-dong-ceo-as-denmark-completes-deal.html

(cdn)Military defeated in war over procurement reform

Control over military procurement seized by Public Works' contract officials

AnalysisFeb 06, 2014 5:00 AM ET
The Canadian military was defeated Wednesday in the final battle of its years-long war with civilian bureaucrats over how best to reform and control military procurement.

The conflict has been taking place in the conference rooms and back halls of government offices in Ottawa for more than three years now. It was fought between generals and officials inside the Department of National Defence and the civilian bureaucrats at Public Works, the government's contracting ministry, and Industry Canada, the department responsible for economic and industrial development.

The feud concluded, finally, when Public Works Minister Diane Finley took to the small stage at an Ottawa hotel Wednesday and pronounced to the audience of defence industry insiders that from now on, when it comes to accountability for defence procurement, “The buck stops right here."

http://www.cbc.ca/m/news/#!/content/1.2524296

Struggling US Postal Service looks to bitcoin for new revenue

Published time: February 06, 2014 00:18

Amid a rise in popularity of cryptocurrency, the financially floundering US Postal Service is considering the possibility of adding a bitcoin exchange to its current roster of non-bank financial services.

http://rt.com/usa/us-postal-service-bitcoin-780/

Zoning proposal to allow medical marijuana facilities

Ottawa city planners suggest licenced medical marijuana facilities in industrial zones

Feb 06, 2014 7:17 AM ET
Ottawa's planning committee will consider a new zoning proposal that would allow federally-licensed medicinal marijuana facilities to set up in the city's industrial areas.

City planners drafted the proposal after Health Canada changed the system through which patients obtain medicinal marijuana.

Rob Vanderkuip, owner of a laminating and braille signage company called Terra Reproductions, says he prefers commercial growers of medical marijuana.(Kate Porter/CBC)
Patients will no longer be able to get licences to grow plants in homes as of Apr. 1, 2014. Instead,  licenced commercial growers will produce and ship medicinal marijuana directly to patients.

http://www.cbc.ca/m/news/#!/content/1.2524837/

 Dutch Bankers Swear to God as Trust in Lenders Slumps

By Maud van Gaal Feb 6, 2014 11:23 AM GMT+0100
“I swear that I will do my utmost to preserve and enhance confidence in the financial-services industry. So help me God.”

The oath, the first of its kind in Europe, became binding on board members of Dutch banks last month as the government sought to rein in an industry with assets more than four times the size of the country’s economy. All 90,000 Dutch bank employees must take the pledge, or a non-religious affirmation, starting the second half of this year.

http://www.bloomberg.com/news/2014-02-05/dutch-bankers-swear-to-god-as-trust-in-lenders-slumps-to-record.html



Feb. 6, 2014, 11:48 a.m. EST

Boehner doesn't rule out 'clean' debt-limit bill

WASHINGTON (MarketWatch) -- House Speaker John Boehner on Thursday did not rule out voting on a no-strings-attached increase in the U.S. debt ceiling. Asked by reporters about a "clean" debt-limit bill, Boehner said discussions among Republicans are ongoing. He repeated that the U.S. won't default on its debt and added he trusts Treasury Secretary Jacob Lew's timeline on the debt limit. Republicans are still looking for "the pieces to the puzzle" on how to proceed, he said.

http://www.marketwatch.com/story/boehner-doesnt-rule-out-clean-debt-limit-bill-2014-02-06

US successfully tests B-61 atomic bomb

The US has successfully tested an updated version of a B-61 atomic bomb in defiance of the Nuclear Non-Proliferation Treaty, which calls for nuclear disarmament.

The National Nuclear Security Administration said in a statement that the test was conducted on Tuesday by the Los Alamos and Sandia national laboratories, National Journal reported.

http://www.presstv.ir/detail/2014/02/06/349556/us-successfully-tests-b61-atomic-bomb/

Why Fed volatility is emerging markets' 'poison'

The notion that markets will return to 'normal' this year is pure fiction, one analyst told CNBC on Thursday, noting weaker emerging markets are still vulnerable to volatility stemming from the Federal Reserve's monetary policy.

http://finance.yahoo.com/news/why-fed-volatility-emerging-markets-030746784.html

Gold bugs, be patient: Your time is coming

CNBC
By Dhara Ranasinghe 14 hours ago

Gold bugs, be patient: Your time is coming

Demand for physical gold has soared. Okay, so that hasn't shown up significantly in the spot gold price yet but that's likely to come soon, some analysts say.

"Physical gold is disappearing off the market at a terrible rate. As soon as that really starts to hit I think gold goes through the roof," Jim Walker, founder and CEO of Asianomics told CNBC. "That's one of our biggest longs for the year."

http://finance.yahoo.com/news/gold-bugs-patient-time-coming-034014270.html


 February 6, 2014 4:39 pm

Leaked Ukraine recording reveals US exasperation with EU

A leaked recording of a telephone conversation allegedly between US assistant secretary of state Victoria Nuland and the US envoy to the Ukraine, Geoffrey Pyatt discussing who should be in Ukraine's next government has, according to The FT, threatened to fuel east-west tensions over the troubled nation's future. In apparent frustration with the EU – which has failed to join the US in threatening sanctions against Ukraine’s leaders if they violently crush the protests – the voice resembling Ms Nuland at one point exclaims "Fuck the EU". As the two US diplomats decide whether "Klitsch" or "Yats" should be 'in' or 'out', listeners will be reminded (uncomfortably) that the governments of Ukraine and Russia previously alleged that the protests are being funded and orchestrated by the US.

http://www.zerohedge.com/news/2014-02-06/fuck-eu-us-state-department-blasts-europe-revealed-alleged-mastermind-behind-ukraine

Ukraine Imposes Limits On Interbank Operations

 02/06/2014 13:35 -0500

Keep those dominoes steady... steady... and nobody exhale:

    UKRAINE IMPOSES LIMITS ON SOME INTERBANK FX OPERATIONS
    UKRAINE TIGHTENS RULES ON COPRORATE FOREIGN-CURRENCY PURCHASES
    UKRAINE CENTRAL BANK CITES HRYVNIA VOLATILITY ON FX MEASURES

There is of course, good news:

    UKRAINE CENTRAL BANK SAYS INTERBANK LIMITS ARE TEMPORARY

Just like in Cyprus.

http://www.zerohedge.com/news/2014-02-06/ukraine-imposes-limits-interbank-operations

Luxembourg Takes Tough Line on EU Bank Secrecy

Premier Sets Condition for Agreeing Tax Evasion Deal

Feb. 6, 2014 12:40 p.m. ET

BERLIN—Luxembourg Prime Minister Xavier Bettel said on Thursday that his government would maintain its tough line on bank secrecy, pledging to block a European Union-wide deal to curtail tax evasion as long as Brussels didn't make progress on reaching a similar accord with five non-EU members.

"We won't pursue a blockade just for the sake of it," said Mr. Bettel at a news conference in Berlin following talks with German Chancellor Angela Merkel. "We won't wait until everything has been wrapped up. but it is...

http://online.wsj.com/news/articles/SB10001424052702304181204579366860172437006?mg=reno64-wsj&url=http%3A%2F%2Fonline.wsj.com%2Farticle%2FSB10001424052702304181204579366860172437006.html

 Ex-SAC Fund Manager Martoma Found Guilty in Insider Case

By Bob Van Voris Feb 6, 2014 8:24 PM

Former SAC Capital Advisors LP fund manager Mathew Martoma was found guilty in the most lucrative insider trading scheme ever as federal prosecutors racked up a seventh conviction in their six-year probe of the hedge fund and its billionaire founder, Steven A. Cohen.

http://www.bloomberg.com/news/2014-02-06/ex-sac-fund-manager-martoma-found-guilty-in-insider-case.html

EU asks Britain to explain new 'allowances' in bankers' pay

Thu, Feb 06 10:58 AM GMT

LONDON/BRUSSELS (Reuters) - The European Commission has asked the Bank of England to explain how new allowances in British bankers' pay comply with an EU bonus cap, an official at the bloc's executive said, a new flashpoint of friction over the reach of financial control.

Under EU rules, from 2015 bonuses cannot be more than fixed salary, or double this amount with shareholder approval, and most of the bankers affected are based in London.

Banks including Barclays, HSBC and Goldman Sachs are expected to raise the non-bonus part of remuneration with, for example, monthly or quarterly "allowances".


http://uk.mobile.reuters.com/article/topNews/idUKBREA150LN20140206



In One Month, Everyone In Iceland Will Own Cryptocurrency

The cryptocurrency craze spun into a new realm of ridiculous with Kanyecoin, Dogecoin, Ron Paul Coin and the bounty of other clone-coins that sprung up to ride the Bitcoin wave. But the latest altcoin to enter the market, Auroracoin, wants to take the futurist trend back to its cryptoanarchist roots. The altcoin was designed specifically for Iceland, and the creator plans to give every citizen of the Nordic country a digital handful of Auroracoins to kickstart their use.

http://motherboard.vice.com/blog/in-one-month-everyone-in-iceland-will-own-cryptocurrency

Wednesday, February 5, 2014

The Stock Market In Japan Is COLLAPSING

Did you see what just happened in Japan?  The stock market of the 3rd largest economy on the planet is imploding. On Tuesday, the Nikkei fell by more than 610 points. If that sounds like a lot, that is because it is. The largest one day stock market decline in U.S. history is only 777 points. So far, the Dow is only down about 1000 points during this "correction", but the Nikkei is down more than 2,300 points. The Nikkei has dropped more than 14 percent since the peak of the market, and many analysts believe that this is only just the beginning.

http://www.activistpost.com/2014/02/the-stock-market-in-japan-is-collapsing.html

 Goldman to Fidelity Call for Calm After Global Stock Wipeout

By Weiyi Lim and Inyoung Hwang Feb 4, 2014

Panic is making an enemy of telephones for Catherine Yeung, the director for equities at Fidelity Investment Management Ltd. in Hong Kong.

http://www.bloomberg.com/news/2014-02-04/goldman-to-fidelity-call-for-calm-after-global-stock-wipeout.html

US ambassador to Russia stepping down

February 4, 2014 - 12:05 PM

MOSCOW (AP) — U.S. Ambassador Michael McFaul, the architect of President Barack Obama's effort to reset relations with Russian, announced on Tuesday that he is stepping down after two turbulent years in Moscow.
 http://cnsnews.com/news/article/us-ambassador-russia-stepping-down#sthash.lZtHf3jO.dpuf

TOM DEMARK: The Next Two To Three Days Are 'Extremely Critical' For The Stock Market — It May Crash 40%

Feb. 5, 2014, 11:20 AM   
Noted market-timer Tom DeMark did not sound optimistic about the prospects for stocks in an interview with CNBC this morning.
DeMark compared today's market to that preceding the Black Friday crash in 1929.

http://www.businessinsider.com/tom-demark-fears-market-crash-2014-2

Exclusive: Deutsche Bank fires Argentine trader in wake of FX probe: source

NEW YORK Wed Feb 5, 2014 4:54pm EST

(Reuters) - Deutsche Bank has fired a currency trader in Argentina amid investigations by global regulators into alleged manipulation of the foreign exchange market, according to a source familiar with the matter, bringing to four the number of traders the bank has dismissed.

Ezequiel Starobinsky, a vice president, at Deutsche office in Argentina, is no longer working at the bank, the source said on Wednesday, after investigations into the fixing rate of the Argentine peso against the U.S. dollar.

http://www.reuters.com/article/2014/02/05/us-forex-deutsche-argentina-idUSBREA1423620140205

Turkish government approves restrictions on Internet

ANKARA, Turkey (AP) — Turkey's Parliament on Wednesday officially approved legislation that will tighten the government's control over the Internet.

With a show of hands, the legislators late Wednesday endorsed allowing Turkey's telecommunications authority to block websites for a privacy violation without a prior court decision.

http://www.mynews3.com/content/news/story/Turkish-government-approves-restrictions-on/LMLyQLQ50kK5386JTdR3rQ.cspx

 Lawsky Said to Open Currency Probe of Over Dozen Banks

By Greg Farrell Feb 5, 2014 5:53 PM GMT+0100
Benjamin Lawsky, New York’s top financial regulator, has asked more than a dozen banks including Goldman Sachs Group Inc. (GS) and Deutsche Bank AG (DB) for documents related to their currency trading practices, a person familiar with the matter said.

http://www.bloomberg.com/news/2014-02-05/lawsky-said-to-open-currency-probe-of-more-than-one-dozen-banks.html

 Goldman Sachs Currency Traders Cho, Lim Said to Depart

By Michael J. Moore Feb 5, 2014 5:35 PM GMT+0100
Steven Cho and Leland Lim, Goldman Sachs (GS) Group Inc. partners in its currency-trading business, have left the firm, according to a person briefed on the matter.

Cho was global head of spot and forward trading of G-10 currencies in New York, while Lim was co-head of macro trading, which includes interest-rates and currencies, for Asia ex-Japan, said the person, who asked to remain anonymous because the departures weren’t public. Cho and Lim were both named partners in 2010.

http://www.bloomberg.com/news/2014-02-05/goldman-sachs-currency-traders-cho-lim-said-to-depart.html

Deutsche Bank Is Said To Fire 3 Currency Traders In New York - Presented by: The Aol. On Network

Deutsche Bank has fired three currency traders in New York as regulators worldwide ramp up their investigations into potential manipulation of the $5-trillion-a-day foreign exchange market. The three employees include the head of Deutsche Bank’s emerging markets foreign exchange trading desk in New York and two traders. Deutsche Bank, the largest trader of currencies, with about 15.2 percent of the market, placed several traders in New York on leave in January.

 http://www.nasdaq.com/video/deutsche-bank-is-said-to-fire-3-currency-traders-in-new-york-518113023#ixzz2sWWeJt4Z

UK watchdog says forex probe to stretch into 2015

LONDON Tue Feb 4, 2014 12:23pm
(Reuters) - Britain's financial watchdog said it was unlikely to reach any conclusions this year in its probe into potential manipulation of foreign exchange markets.

Benchmark foreign exchange rates are used to set the value of trillions of dollars of investments and regulators are looking at whether traders at some of the world's biggest banks colluded to manipulate the rates.

http://uk.reuters.com/article/2014/02/04/uk-britain-forex-fca-idUKBREA130KP20140204

 5 February 2014 Last updated at 03:34

YouTube starts auditing video views

The video-sharing website YouTube said it has started to "audit" the number of views a video has received.

The move is aimed at preventing users from artificially inflating view counts which, YouTube said, mislead people about the popularity of a video.

http://www.bbc.co.uk/news/technology-26043794

Lawmakers hear warnings of U.S. companies' lax data security

WASHINGTON Wed Feb 5, 2014 5:43pm EST

(Reuters) - The Illinois official who is leading a multi-state probe into recent high-profile data breaches told U.S. lawmakers on Wednesday that companies whose systems have been hacked often have failed to take basic security precautions.

http://www.reuters.com/article/2014/02/05/us-usa-target-congress-idUSBREA141FK20140205

Iraq Stock Exchange goes electronic

The Iraq Stock Exchange is switching from writing on a big board to computers.

The ISX launched electronic trading on Sunday, raising hopes the faster method will attract foreign investment to this burgeoning but cash-strapped economy.

http://abcnews.go.com/Business/story?id=7376547

ECB Keeps All Rates Unchanged

 02/06/2014 07:47 -0500
For once, the vast majority of economists was correct, with 62 of 66 predicting accurately what the ECB would do today: nothing. At least so far - moments ago Mario Draghi's central bank just announced no cuts across all three major rates.

http://www.zerohedge.com/news/2014-02-06/ecb-keeps-all-rates-unchanged

Frontrunning: February 6

02/06/2014 07:45 -0500

• Draghi as ECB Master of Suspense Keeps Investors on Edge (BBG)
• Abe lays out detailed plan for expanding defense powers (Nikkei)
• Inflation Fuels Crises in Two Latin Nations (WSJ)
• Obama walks into crossfire of Asian tensions (FT)
• Harvard Makes Professor Disclose More After Blinkx Slides (BBG)
• Hedge Funds Rework Currency Positions in Market Drop (BBG)
• Canada, U.S. Strike Tax-Information Sharing Deal (WSJ)
• Indonesia calls for greater clarity from Fed on tapering (FT)
• Sony to cut 5,000 jobs, split off PC, TV operations (Reuters)
• US shale under fire over thirst for water (FT)
• Carney must avoid another unforced error (FT)
• Australia’s Exports to China Still Firing (WSJ)
• Carney Seeks to Maintain Low-Rate Outlook as U.K. Economy Gains (BBG)

http://www.zerohedge.com/news/2014-02-06/frontrunning-february-6